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News and Announcements

  • Submitted on 21 September 2010

    Hispanic-Owned Firms Outpace Growth of Non-Minority-Owned FirmsThe number of Hispanic-owned businesses increased nearly 44 percent to 2.3 million between 2002 and 2007, more than twice the national average of all U.S. businesses.  The total number of U.S. businesses during the same period increased 18 percent to 27.1 million.  

    But if parity were reached, there would be 3.4 million Hispanic-owned firms generating $1.4 trillion in gross receipts and employing 7.5 million workers.

    • Between 2002 and 2007, the number of Hispanic firms grew by 44 percent to 2.3 million firms, compared to 18 percent for all U.S. firms, and compared to 18 percent growth for the Hispanic population during the same period.

    • Hispanic-owned firms employed approximately 1.9 million workers in 2007, up from 1.5 million in 2002, increasing at a rate of 26 percent compared to no change at non-minority-owned firms.

    • Receipts for Hispanic-owned firms increased 56 percent to approximately $345 billion.

  • Submitted on 26 August 2010

    August 27, 2010

    Tonight I will proudly present the National Minority Business Awards. Recipients will be honored at an awards gala from 7:00 pm to 10:00 pm at the Omni Shoreham Hotel in Washington, D.C. during the National Minority Enterprise Development (MED) Week Conference.

    Minority-owned firms continue to play a critical role in the recovery of our economy. The businesses we recognize through these awards have created jobs, expanded the local tax base, given back to their communities, and most importantly are models for sharing best practices with the rest of the minority business community.

    The National Minority Business Awards are designed to celebrate and recognize the outstanding achievements of minority entrepreneurs based on the challenges their business has overcome, its total revenues, total jobs created, and the economic impact the business has had on its community. MBDA also recognizes individuals and organizations that have demonstrated leadership and commitment in advancing the minority business community.

  • Submitted on 26 August 2010

    U.S. Transportation Secretary LaHood Announces $11.6 Million in Grants for Minority- and Women-Owned Businesses
    Resources will Help Small Businesses Compete for Federal Highway Contracts

    WASHINGTON - U.S. Transportation Secretary Ray LaHood today announced $11.6 million in grants to help disadvantaged business enterprises (DBEs) compete for federal highway contracts in 30 states and Puerto Rico.

    “Giving these small businesses the assistance they need to compete for federal highway contracts creates jobs and ultimately helps taxpayers by reducing project costs,” said Secretary LaHood. “Any way you look at them, these grants are a ‘win-win’ for the American people.”

  • Submitted on 24 August 2010

    Global Reach of Minority-Owned Businesses“Minority-owned business export activity spans 41 countries across the globe,” said David Hinson, National Director of the Minority Business Development Agency (MBDA) today during the 28th Annual Minority Enterprise Development (MED) Week Conference, in Washington, D.C.   MBDA’s analysis of data from the U.S. Export Bank and the U.S. Census Bureau on minority-owned business export activity and growth was released by MBDA during the MED Week Conference.  The focus of the conference, entitled “Strategies for Growth and Competitiveness in the Global Economy,” is to promote the global reach and export sales of minority-owned businesses.

  • Submitted on 24 August 2010

    2010 Presidential Proclamation -MED WeekSince our Nation's founding, the United States has been a beacon of economic opportunity and limitless possibility.  America's strength and resiliency have relied on the vision of our entrepreneurs and small business owners, whose tireless work ethic has defined the character of our country.  During Minority Enterprise Development Week, we celebrate the millions of minority business owners whose firms generate jobs, strengthen our economy, and embody the entrepreneurial spirit of America.

     Even in the toughest of times, America has been characterized by the belief that anyone with a good idea and enough hard work can succeed and share those achievements with their employees and communities.  Today, as we emerge from a historic recession, many families and businesses face difficult economic challenges, and we must continue to prioritize job creation as part of a sustained recovery that works for all Americans.  Minority-owned and operated enterprises are essential to stabilizing our economy now, and laying a foundation for future economic growth and prosperity.


  • Submitted on 13 August 2010

    Recently, MBDA and the U.S. Census Bureau announced that the number of minority-owned firms increased by 46 percent to 5.8 million between 2002 and 2007 according to data from the Preliminary Estimates of Business Ownership by Gender, Ethnicity, Race and Veteran Status: 2007, from the U.S. Census Bureau’s 2007 Survey of Business Owners.

     “It is encouraging that the minority business community is growing and making progress relative to all U.S. firms, but economic parity remains elusive,” says MBDA National Director David A. Hinson.  “While the number of minority-owned businesses continues to grow, they are still smaller in size and scale compared to non-minority-owned firms.”

  • Submitted on 13 August 2010

    Each year, the President of the United States proclaims a National Minority Enterprise Development (MED) Week to formally recognize minority-owned businesses for their professional achievements and their contributions to the Nation’s economy. 

    The National MED Week Conference, hosted by the Minority Business Development Agency (MBDA), is the largest federally sponsored event held to spotlight minority business development. This hallmark event brings together nearly 2,000 minority-owned businesses from across the country to participate in a series of educational, training, and business to business matchmaking events designed to help grow and thrive in a continually changing economy.

  • Submitted on 22 July 2010

    The goals and objectives of the program are to provide competitively awarded grant funds for research science buildings through the construction of new buildings or expansion of existing buildings. “Research science building” means a building or facility whose purpose is for the conduct of scientific research, including laboratories, test facilities, measurement facilities, research computing facilities, and observatories. U.S. institutions of higher education and non-profit science research organizations are eligible to apply.

    The NIST grants will fund new or expanded facilities for scientific research in fields related to measurement science, oceanography, atmospheric research or telecommunications, the research fields of the Commerce Department’s three science agencies: NIST, the National Oceanic and Atmospheric Administration (NOAA) and the National Telecommunications and Information Administration (NTIA). Candidate projects could include laboratories, test facilities, measurement facilities, research computing facilities or observatories.

  • Submitted on 22 July 2010

    WASHINGTON – U.S. Transportation Secretary Ray LaHood today announced $9.9 million in grants to provide training and other services to minority- and women-owned businesses in 33 states to help them compete for highway contracts.

    “The U.S. Department of Transportation has an excellent history of reaching out to small businesses owned by women, veterans and minorities,” said Secretary LaHood. “Nearly half the contracts we award each year go to these types of firms.”

    The “Disadvantaged Business Enterprise/Supportive Service (DBE/SS)” grants are part of an ongoing federal effort to help state departments of transportation train certified DBE firms on subjects ranging from contract and business management, to procurement assistance and how to secure bonding. The goal of the program is to help them successfully compete for federal highway projects.

  • Submitted on 19 July 2010

    WASHINGTON, D.C. (May 4, 2010) – The U.S. Department of Health and Human Services today issued regulations establishing the Early Retiree Reinsurance Program in the Affordable Care Act. The new law provides $5 billion in financial assistance to employers to help them maintain coverage for early retirees age 55 and older who are not yet eligible for Medicare.

    Employers can use the savings to either reduce their own health care costs, provide premium relief to their workers and families, or a combination of both. Employers who are accepted into the program will receive reinsurance reimbursement for medical claims for eligible retirees and their spouses, surviving spouses and dependents.

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